Sellers of Spanish Property Largely Unwilling to Reduce Prices

Overseas property portal Property Abroad has revealed that only 12% of private sellers of property in Spain have gotten to the point where they accept the realisation that price-drops may be necessary if they want to sell in a reasonable time frame. The figure suggests that the Spanish property market may have a long way to go before it recovers according to Les Calvert, director of the portal, he said:

Hartlepool, United Kingdom, March 15, 2009 --( "63% of all our FSBO properties are in Spain. So many people will likely be surprised that only 12% of our private sellers of property in Spain, have faced the fact that price drops are probably going to be necessary to get a sale. Surprising or not it is the reason why a recovery in the Spanish property market is a lot further off than the UK or any other location where sellers have faced up to the fact that it is a buyer's market.

"A recovery is dependent on the price that buyers are willing to pay, -- how cheaply they can get the property for -- and what sellers are willing to drop their price to, meeting in the middle. Thus price drops are necessary to restart the market in Spain, because sales will only pick up when the above gap is closed on a large scale."

Property Abroad are currently advertising hundreds of properties for sale in Spain, dozens of which are resale properties for sale by owner.

Les recommended a 2 bedroom townhouse for sale in Costa Calida as his star property. Property for sale in Costa Calida was recently named as among the 5 most popular locations in Spain by the portal. And the 2 bedroom townhouse recommended by Les is being offered for the bargain price of £43,919. Though the property isn't the least expensive being advertised by the portal, it is habitable and with a little work could "really be made into something special," Les finished.

About Property Abroad

Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.

To find out more contact the team at:

Property Abroad LTD
182 York Road
TS26 9EA

Chief Marketing Analyst
Liam Bailey

Property Abroad LTD
Les Calvert
0845 2000 467